Danish investment bank, Saxo Bank, predicts Brexit will never happen in a document outlining its predictions for the year 2017. ‘Brexit never happens as the UK Bremains’ reads the heading within Saxo Bank’s ‘2017 Outrageous Predictions’. It claims that the “global populist uprising” symbolised by events such as Brexit, Donald Trump and Italy’s referendum, will influence the EU leadership to be more accommodating to its various member states, especially Britain, resulting in a stalled Brexit in favour of a better Bremain deal.
The document states that the EU will be prepared to make concessions on various policies and stances that were at the forefront of the Brexit referendum, such as immigration. These concessions may appear even more favourable to the UK government in relation to implementing Article 50, the Bank says.
However, Saxo Bank fails to address the fundamental issue to which all other issues are subordinate: Britain’s sovereignty. This pivotal part of the Brexit movement is nowhere as important than a supposed deal being compiled by the EU leadership to keep Britain within its wing. The EU may be willing to make some concessions, yet this is minute in nature compared to the sacrifices Britain has had to make during its time in the EU regarding its own sovereignty. Britain’s continued status as a vassal state to a multinational organisation headed by Germany was a major reason why its people staged a conservative and patriotic revolution by voting Leave.
If the British government is unable to fulfil its promises, it will degrade itself in front of its own people. Yet, this degradation is nothing compared to the fact that Britain will remain a tributary to the European Union, a status it been forced to endure for decades. Britain’s independence has been at stake ever since its admission into the EU in 1973, because the kingdom’s identity has become secondary in comparison to its position in the union.
But how has the fountainhead of the world’s largest empire been reduced to the status of vassal to Germany? The fact that UK pays a ‘fee’ to the EU budget, which totalled £12.9 billion in 2015, equates the kingdom with states who once paid tribute to empires, such as Egypt did to Rome. A once great nation now subordinate to a quasi-imperialistic union, and ultimately to Germany.
Saxo Bank’s failure to remember this vital aspect of Brexit has marred its outlook for the year. It has ignorantly jumped to the conclusion that Brexit will not happen simply because the EU will tempt Britain with a better deal to incentivise ‘Bremain’. Yet, no deal can undo the insult Britain has had to endure through its membership in the EU, the insult to its sovereignty and identity.
It is unlikely for Theresa May and her government to deny people their democratic decision to leave the EU. If she does, the current “global populist movement” spearheaded by a rise in conservatism and right-wing values will make an even greater effort to ensure the United Kingdom regains its sovereignty and identity. An attack on people’s patriotism and Britain’s heritage will actually help both patriotism and heritage, because the people will come back stronger. The Brexit decision has been made, and Britain will exit the EU. Neither Saxo Bank’s ‘Outrageous Predictions’ nor the left’s death throes will prevent this reality from manifesting.